Icahn Proposes $2.6B Takeover Of CVR Energy

By Lana Birbrair

Law360, New York (February 16, 2012, 8:01 PM ET) -- Billionaire investor Carl C. Icahn offered to buy all the outstanding shares of Texas-based CVR Energy Inc. on Thursday for $30 per share in cash for a total value of about $2.6 billion, plus a contingent value right for an additional payment if the company is sold for a higher price.

Although Icahn did not issue a formal tender offer, he informed CVR through his fund Icahn Partners LP of his plans to increase his share of the company, which now stands at about 14.5 percent....